UniSuper Management Pty Ltd Has $1.66 Million Position in MGM Resorts International $MGM

UniSuper Management Pty Ltd grew its holdings in MGM Resorts International (NYSE:MGM) by 14.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,911 shares of the company’s stock after purchasing an additional 7,215 shares during the quarter. UniSuper Management Pty Ltd’s holdings in MGM Resorts International were worth $1,657,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of MGM. Helikon Investments Ltd acquired a new position in MGM Resorts International in the first quarter worth $54,418,000. Fuller & Thaler Asset Management Inc. acquired a new position in MGM Resorts International in the first quarter worth $47,631,000. AQR Capital Management LLC boosted its stake in MGM Resorts International by 104.2% in the first quarter. AQR Capital Management LLC now owns 2,611,278 shares of the company’s stock worth $75,962,000 after purchasing an additional 1,332,313 shares in the last quarter. GMT Capital Corp acquired a new position in MGM Resorts International in the first quarter worth $36,656,000. Finally, Davis Selected Advisers raised its position in shares of MGM Resorts International by 4.5% during the first quarter. Davis Selected Advisers now owns 20,815,057 shares of the company’s stock worth $616,958,000 after acquiring an additional 894,344 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.1%

MGM stock opened at $35.98 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $42.53. The business has a 50 day moving average price of $37.16 and a two-hundred day moving average price of $33.74. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.52 and a beta of 1.69.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.58 by $0.21. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 60,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $32.09, for a total transaction of $1,925,400.00. Following the completion of the transaction, the director directly owned 5,627,478 shares in the company, valued at approximately $180,585,769.02. The trade was a 1.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.06% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Citigroup upgraded MGM Resorts International from a “hold” rating to a “strong-buy” rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Wednesday, July 9th. Barclays boosted their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. began coverage on shares of MGM Resorts International in a research note on Monday, June 23rd. They issued a “neutral” rating and a $38.00 price objective on the stock. Finally, Mizuho dropped their price objective on MGM Resorts International from $59.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

MGM Resorts International Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.